Gold Supporting Member
- May 2, 2002
- Professional Status
- Certified General Appraiser
This is a useful guide if you ever wanted to do these. They are quite profitable but the IRS is very likely to check it out.
It is a good summary/guide.What is a reasonable cost for a conservation easement appraisal? The costs associated with easement appraisals may vary widely, depending on property's location, the particular appraiser, the level of easement complexity and other factors.
This was one of our main topics when I was buying easements for the Southern Delivery System (SDS, Pueblo to Colorado Springs).This is a useful guide if you ever wanted to do these. They are quite profitable but the IRS is very likely to check it out.
The Risk is out there, confidence, knowledge and preparation/presentation are a must. If one does a thorough job of research & development, you should feel confident in your end result. If not, don't get involved.Due diligence is a mild term with these assignments...deep dig on familial ownership lands is one area that sets these apart...enhancement considerations.
IRS imposes different factors that are 'musts' within their official publications...IMO similar to Yellow Book guidelines.
I took the 5-day course/exam as a QEU alternative in 2012 in Michigan and had IRS officials also taking it...very helpful in understanding what the internal reviewer looks at. FYI, more than one CG was concerned about license sanctions after the first day.